Beacon Roofing Supply Inc. (NASDAQ:BECN) – Research analysts at Wedbush increased their Q1 2017 earnings per share (EPS) estimates for shares of Beacon Roofing Supply in a research report issued to clients and investors on Tuesday. Wedbush analyst A. Kaschalk now forecasts that the firm will post earnings of $0.52 per share for the quarter, up from their prior estimate of $0.48. Wedbush currently has a “Neutral” rating and a $50.00 price target on the stock. Wedbush also issued estimates for Beacon Roofing Supply’s Q3 2017 earnings at $0.81 EPS, Q4 2017 earnings at $0.91 EPS, FY2017 earnings at $2.33 EPS, Q1 2018 earnings at $0.52 EPS, Q2 2018 earnings at $0.13 EPS, Q3 2018 earnings at $0.94 EPS, Q4 2018 earnings at $1.14 EPS, FY2018 earnings at $2.73 EPS, FY2019 earnings at $3.05 EPS and FY2020 earnings at $3.31 EPS.

Beacon Roofing Supply (NASDAQ:BECN) last released its quarterly earnings results on Monday, November 21st. The company reported $0.88 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by $0.03. The company earned $1.17 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Beacon Roofing Supply had a return on equity of 10.26% and a net margin of 2.18%. The company’s revenue was up 49.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 EPS.

A number of other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research report on Tuesday, October 4th. RBC Capital Markets reduced their price target on shares of Beacon Roofing Supply from $54.00 to $51.00 and set an “outperform” rating for the company in a research report on Tuesday. Royal Bank Of Canada reduced their price target on shares of Beacon Roofing Supply from $54.00 to $51.00 and set an “outperform” rating for the company in a research report on Tuesday. Robert W. Baird reduced their price target on shares of Beacon Roofing Supply from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Jefferies Group restated a “hold” rating and set a $46.00 price target on shares of Beacon Roofing Supply in a research report on Wednesday. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Beacon Roofing Supply currently has an average rating of “Buy” and a consensus price target of $48.90.

Beacon Roofing Supply (NASDAQ:BECN) traded up 1.39% on Wednesday, reaching $45.99. The company had a trading volume of 206,896 shares. Beacon Roofing Supply has a 1-year low of $32.24 and a 1-year high of $48.96. The company’s 50-day moving average price is $43.30 and its 200 day moving average price is $44.21. The firm has a market capitalization of $2.75 billion, a P/E ratio of 30.87 and a beta of 1.33.

Several hedge funds have recently bought and sold shares of the stock. Advisor Group Inc. purchased a new stake in Beacon Roofing Supply during the second quarter valued at $105,000. Springbok Capital Management LLC boosted its stake in Beacon Roofing Supply by 275.5% in the first quarter. Springbok Capital Management LLC now owns 2,700 shares of the company’s stock valued at $111,000 after buying an additional 1,981 shares during the period. Glenmede Trust Co. NA boosted its stake in Beacon Roofing Supply by 2.8% in the second quarter. Glenmede Trust Co. NA now owns 3,151 shares of the company’s stock valued at $143,000 after buying an additional 86 shares during the period. BlackRock Inc. boosted its stake in Beacon Roofing Supply by 116.8% in the first quarter. BlackRock Inc. now owns 3,442 shares of the company’s stock valued at $141,000 after buying an additional 1,854 shares during the period. Finally, Ameritas Investment Partners Inc. purchased a new stake in Beacon Roofing Supply during the second quarter valued at $212,000.

In other news, Director Carl T. Berquist purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, September 7th. The stock was acquired at an average price of $44.81 per share, with a total value of $224,050.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $224,050. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Paul Isabella sold 45,000 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $46.31, for a total transaction of $2,083,950.00. Following the completion of the sale, the chief executive officer now directly owns 155,414 shares of the company’s stock, valued at approximately $7,197,222.34. The disclosure for this sale can be found here. 1.15% of the stock is currently owned by insiders.

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Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc is a distributor of residential and non-residential roofing materials in the United States. The Company operates in the wholesale distribution of building materials segment. The Company distributes other complementary building materials, such as waterproofing systems for residential and non-residential building exteriors.